Personal Loans News

New loan program for financially excluded' small business entrepreneurs

Small business entrepreneurs now have the opportunity to be financially supported and mentored by NAB and their approved partner organisations, through their re-invigorated Microenterprise Loan program.

More Australians falling victim to debt

Bankruptcies, debt agreements and personal insolvency agreements all rose in the final quarter of 2017, according to new data.

RateSetter leading the way for personal loans

Interest rates for personal loans listed on RateCity range from as low as 3.57 per cent to as high as 48.00 per cent, with the average rate being 11.89 per cent.

Personal loan and credit card customers get $1.1m refund

Hallmark General Insurance Company, trading as Latitude Insurance, will provide refunds of approximately $1.1 million to 905 customers.

Personal lending falls 3.2% over the year

New limits for payday loans and consumer leases

The federal government is drafting legislation designed to help protect vulnerable Australians from being stung by payday loans, consumer leases, and similar small credit products.

Bankruptcies and debt agreements hit highs

More Australians are struggling to manage debt, mortgage stress and financial hardship, with the number of bankruptcies and debt agreements around the country increasing over the past three months.

NAB and CBA lead Big Four in CCR

Both National Australia Bank (NAB) and Commonwealth Bank of Australia (CBA) have announced that they will participate in Comprehensive Credit Reporting (CCR) in 2018, allowing more Australians the opportunity to improve their credit ratings by exercising positive borrowing habits.

Boss of dodgy payday lender cops punishment

A financial services director has been banned from engaging in credit activities for three years after being found guilty of running an unlicensed payday lending business.

NAB commits to helping low income Australians

One hundred thousand no and low interest rate personal loans will be provided to low income Australians by NAB.

Consumer credit insurance confusion spurs ASIC overhaul

The Australian Securities & Investments Commission (ASIC) has commenced work with representatives from the banking industry on reforming Consumer Credit Insurance (CCI) in Australia.

Personal loans in high demand

An increasing number of Australians are applying for personal loans and turning away from credit cards and mortgages, according to new figures from Equifax.